Key Takeaways
- • Trinity Hunt Partners has launched Steadpoint Industrial Services through an institutional investment in Northline Industrial, a Michigan-based industrial repair and maintenance company founded in 2006, marking the first institutional capital infusion for the founder-owned business.
- • Northline operates five regional brands across the upper Midwest and Southeast, specializing in robot repair, welding equipment service, spindle and motor rebuilds, and field service, serving more than 375 customers annually with technicians averaging 19+ years of experience.
- • The U.S. industrial MRO market totaled $93.2 billion in 2025 and is projected at $94.7 billion in 2026, with industrial MRO representing approximately 45% of the total maintenance, repair, and operations sector, characterized by fragmentation with typical industrial facilities sourcing from 120+ vendors.
- • Trinity Hunt has appointed Courtney Pernat as CFO (previously CFO of Summit Companies, sold to BDT & MSD Partners in 2025) and Ross Morgan as chief development officer (former head of M&A at Mariani Premier Group), both executives with established buy-and-build acquisition track records from CI Capital-backed platforms.
- • The platform strategy focuses on consolidating the fragmented industrial MRO supply base through acquisitions and organic growth, leveraging Northline's recurring, relationship-driven revenue model and technical workforce as the foundation for national expansion.
Summary
Trinity Hunt Partners has formed Steadpoint Industrial Services as a new platform vehicle for institutional growth in the industrial maintenance, repair, and operations (MRO) sector. The anchor investment is Northline Industrial, a Detroit-headquartered repairer of factory robots, welding equipment, servo motors, and machine tools that has operated as a founder-owned business since 2006. This marks the first institutional capital deployment into the 20-year-old company, co-founded by Chuck Baase, whose existing operations serve manufacturers and distributors across the automotive and general industrial base in the upper Midwest and Southeast regions.
Northline's operational footprint spans five regional brands: Robot World Automation (robotics repair and rebuilds), Talentline Services (industrial staffing and outsourced workforce), Northline South in Kentucky (welding equipment, acquired 2019), McBroom Industrial Services in Indianapolis (spindle repair and motor rebuilds, acquired 2020), and Northline NC in North Carolina (electronics and robotics). The company serves over 375 customers annually and holds factory-authorized repair certifications from major OEMs including Lincoln Electric, Miller, ESAB, Victor, Fronius, and OTC Daihen. The business model emphasizes cost-effective repairs and remanufacturing as alternatives to new equipment purchases, supported by field service dispatch capabilities and detailed testing protocols.
The market opportunity reflects both scale and fragmentation. According to Mordor Intelligence, the U.S. MRO market reached $93.2 billion in 2025, with industrial MRO representing roughly 45% of the total and tracking toward $94.7 billion in 2026. Growth is projected at low single-digit compound annual rates through the early 2030s, driven by industrial automation adoption, aging equipment lifecycles, and rising plant reliability premiums. The defining market characteristic is extreme fragmentation—typical U.S. industrial facilities source from more than 120 separate MRO vendors, creating consolidation opportunities for well-capitalized acquirers.
Trinity Hunt has installed two executives with institutional acquisition backgrounds to lead platform growth. Courtney Pernat joins as CFO, most recently serving as CFO of Summit Companies, a fire and life-safety platform assembled through dozens of acquisitions and held by BlackRock Long Term Private Capital before its 2025 sale to BDT & MSD Partners. Ross Morgan assumes the chief development officer role after leading the M&A function at Mariani Premier Group, a CI Capital-backed residential landscaping platform. Both executives bring experience from CI Capital's established buy-and-build playbook, positioning Steadpoint for acquisition-led national expansion.
The platform strategy aligns with Trinity Hunt's established investment thesis of backing founder-owned services businesses and scaling them nationally. Garrett Greer, a Trinity Hunt partner, characterized the opportunity as capturing "growing, consistent, and recurring demand for industrial MRO services" through Northline's technical expertise and relationship-based customer base, layered with institutional sales capabilities. Trinity Hunt targets founder- and family-owned companies with revenues exceeding $10 million and EBITDA above $2 million, typically deploying $15 million to $70 million of equity per investment. The firm closed Trinity Hunt Partners VII LP at its hard cap in February 2024 with $700 million of capital commitments.
Northline's operational footprint spans five regional brands: Robot World Automation (robotics repair and rebuilds), Talentline Services (industrial staffing and outsourced workforce), Northline South in Kentucky (welding equipment, acquired 2019), McBroom Industrial Services in Indianapolis (spindle repair and motor rebuilds, acquired 2020), and Northline NC in North Carolina (electronics and robotics). The company serves over 375 customers annually and holds factory-authorized repair certifications from major OEMs including Lincoln Electric, Miller, ESAB, Victor, Fronius, and OTC Daihen. The business model emphasizes cost-effective repairs and remanufacturing as alternatives to new equipment purchases, supported by field service dispatch capabilities and detailed testing protocols.
The market opportunity reflects both scale and fragmentation. According to Mordor Intelligence, the U.S. MRO market reached $93.2 billion in 2025, with industrial MRO representing roughly 45% of the total and tracking toward $94.7 billion in 2026. Growth is projected at low single-digit compound annual rates through the early 2030s, driven by industrial automation adoption, aging equipment lifecycles, and rising plant reliability premiums. The defining market characteristic is extreme fragmentation—typical U.S. industrial facilities source from more than 120 separate MRO vendors, creating consolidation opportunities for well-capitalized acquirers.
Trinity Hunt has installed two executives with institutional acquisition backgrounds to lead platform growth. Courtney Pernat joins as CFO, most recently serving as CFO of Summit Companies, a fire and life-safety platform assembled through dozens of acquisitions and held by BlackRock Long Term Private Capital before its 2025 sale to BDT & MSD Partners. Ross Morgan assumes the chief development officer role after leading the M&A function at Mariani Premier Group, a CI Capital-backed residential landscaping platform. Both executives bring experience from CI Capital's established buy-and-build playbook, positioning Steadpoint for acquisition-led national expansion.
The platform strategy aligns with Trinity Hunt's established investment thesis of backing founder-owned services businesses and scaling them nationally. Garrett Greer, a Trinity Hunt partner, characterized the opportunity as capturing "growing, consistent, and recurring demand for industrial MRO services" through Northline's technical expertise and relationship-based customer base, layered with institutional sales capabilities. Trinity Hunt targets founder- and family-owned companies with revenues exceeding $10 million and EBITDA above $2 million, typically deploying $15 million to $70 million of equity per investment. The firm closed Trinity Hunt Partners VII LP at its hard cap in February 2024 with $700 million of capital commitments.
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